Gold (XAUUSD) is trading near the 5000 psychological resistance, where a higher timeframe ABCD pattern is completing.
On the 15-minute timeframe, price is making higher highs while RSI shows clear bearish divergence, confirmed across multiple timeframes (15m, 30m, 45m & 1H).
This divergence indicates momentum exhaustion, increasing the probability of a short-term pullback or rejection from the 5000 zone.
🔴 Sell Zone: 4990 – 5010
🛑 Invalidation: Sustained move above 5035
🎯 Targets: 4945 → 4900 → 4850
📌 Higher timeframe ABCD structure adds strong confluence to this setup.
⚠️ Use proper risk management. This idea is for educational purposes only.
On the 15-minute timeframe, price is making higher highs while RSI shows clear bearish divergence, confirmed across multiple timeframes (15m, 30m, 45m & 1H).
This divergence indicates momentum exhaustion, increasing the probability of a short-term pullback or rejection from the 5000 zone.
🔴 Sell Zone: 4990 – 5010
🛑 Invalidation: Sustained move above 5035
🎯 Targets: 4945 → 4900 → 4850
📌 Higher timeframe ABCD structure adds strong confluence to this setup.
⚠️ Use proper risk management. This idea is for educational purposes only.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.